The case involves an application filed by Intec Capital Limited, the Financial Creditor, against India Offset Printers Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had approached the Financial Creditor for loan facilities in April 2012 and December 2012. The Financial Creditor approved the loan applications and issued sanction letters. Loan agreements were entered into, and the Corporate Debtor deposited amounts as collateral security. The Corporate Debtor started defaulting on repayment schedules, leading to legal
…Intec Capital Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, against India Offset Printers Private Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor approached the Financial Creditor for loan facilities in April 2012 and December 2012, seeking Rs 81,00,000/- and Rs 88,00,000/- respectively. The Financial Creditor approved the loan applications and issued a Sanction Letter dated 04.07.2012 for Rs. 81,00,000/-. A Loan Agreement was entered into on 06.07.2012. The Corporate Debtor deposited Rs. 28,35,000/- as collateral security. The loan was disbursed on 06.07.2012 and 09.07.2012. The loan was for 36 months with an interest rate of
…Sign in to view the parties.
Corporate Debtor…
Corporate Debtor…
The case involves an application filed by Intec Capital Limited, the Financial Creditor, against India Offset Printers Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had approached the Financial Creditor for loan facilities in April 2012 and December 2012. The Financial Creditor approved the loan applications and issued sanction letters. Loan agreements were entered into, and the Corporate Debtor deposited amounts as collateral security. The Corporate Debtor started defaulting on repayment schedules, leading to legal
…Intec Capital Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, against India Offset Printers Private Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor approached the Financial Creditor for loan facilities in April 2012 and December 2012, seeking Rs 81,00,000/- and Rs 88,00,000/- respectively. The Financial Creditor approved the loan applications and issued a Sanction Letter dated 04.07.2012 for Rs. 81,00,000/-. A Loan Agreement was entered into on 06.07.2012. The Corporate Debtor deposited Rs. 28,35,000/- as collateral security. The loan was disbursed on 06.07.2012 and 09.07.2012. The loan was for 36 months with an interest rate of
…Corporate Debtor…
Corporate Debtor…